YM Stop - Move to 20?

[tradefreak]

Hey all you YM traders with a 5 and 10 pts stops - have been getting stopped out over the last month? Here's a 5 min chart of YM on 3-13 with 12-20 pt moves in only 5 minutes. What's your strategy to profit from these moves?

 

[whitster]

no, i haven't

most of my setups use 10 pt stops

and the stops only get hit 21% of the time

 

[riskarb]

Coolweb has spoken. What happened to your 1tick stops?

 

[porgie]

20 PT STOPS ARE OKAY IF U HAVE A SUPER HIGH ACCURACY SYSTEM......IF NOT, BYE BYE REAL SOON.

 

[tradefreak]

hey whitster: are u scalping?

 

[murray t turtle]

Quote from tradefreak:

Hey all you YM traders with a 5 and 10 pts stops - have been getting stopped out over the last month? Here's a 5 min chart of YM on 3-13 with 12-20 pt moves in only 5 minutes.


What's your strategy to profit from these moves?

============================

Good question.T-freak

Mainly stay out of green-red slop-chop like your first 14 point slop-chop countertrend candle;maybe different for bid ask scalpers.

The fewer times do trade a countertrend, want a lot/much more trends pointing down than first 14 point candle you marked.

With most all the 5 minute & larger candlechart trend$ are up in YM;
many more countertrends will be stopped out, no matter what size stops, compared to trends.

 

[volente_00]

Quote from tradefreak:

Hey all you YM traders with a 5 and 10 pts stops - have been getting stopped out over the last month? Here's a 5 min chart of YM on 3-13 with 12-20 pt moves in only 5 minutes. What's your strategy to profit from these moves?

Short the 10:30 reversal on a gap up, cover when it fills.

 

[porgie]

i lost my shorts on ur short.......not really........my system said up up and away times a few cars........up the cars not the points.......when u see them.........punch the money button......

 

[porgie]

there is one bad thing possible in this business.........losing money

 

[volente_00]

Quote from porgie:

i lost my shorts on ur short.......not really........my system said up up and away times a few cars........up the cars not the points.......when u see them.........punch the money button......

My above reply was for the chart he posted of yesterday.


For today, fading the 10:30 trade would have meant going long as the direction before 10:30 was heading down. Rule of 20 said to buy at 11080 on the pullback. The 50% retracemnt from 11060 to 11100 was also 11080. And if you trade T day theory, then there were 4 strong reason to be long.